... recession, however, it does provide an indication of the problems that may emerge. Social implications Social implications arise from the concentration of resources into housing wealth; homeowners may suffer through having increased debt and there are implications for financial and sustainable welfare...

... interpretation of that research. Andrew W. Lo can be contacted at: alo@mit.edu © Emerald Group Publishing Limited 2009 Recession Regulation Economic reform Although a number of indirect measures of systemic risk can be computed from existing data, the biggest obstacle is the lack...